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Section 12 <br /> Board of Trustees <br /> 12.01 Appointment, Term of Service and Removal. The Board of Trustees shall administer <br /> this Plan. The members shall serve until their resignation, death, removal, or their <br /> term otherwise expires. Any member may resign at any time by mailing a written <br /> resignation to the Board of Trustees. Any member may be removed in accordance with <br /> the Act. Likewise, vacancies may be filled in accordance with the Act from time to time. <br /> 12.02 Members of the Board of Trustees. The members of the Board of Trustees shall consist <br /> of the members as set forth in Section 19 of the Act. Effective as of the Effective Date <br /> and thereafter, there will be no "participating members" of the Fund. The three <br /> members of the Board of Trustees who were participating members shail continue to <br /> serve out their term. Thereafter, the members of the board of trustees as provided by <br /> Subdivisions (1) and (2) of subsection (a) of Section 19 of the Act shall appoint <br /> additional board members. These board members will be members of the Fund. <br /> 12.03 Powers. The Board of Trustees is a fiduciary. It has the exclusive responsibility for the <br /> general administration of the Fund, and has all powers necessary to accomplish that <br /> purpose, including but not limited to the following rights, powers, and authorities: <br /> a. To make rules for administering the Fund so long as they are not inconsistent <br /> with the terms of the Fund; <br /> b. To construe all provisions of the Fund and trust or trusts; <br /> c. To correct any defect, supply any omission, or reconcile any inconsistency <br /> which may appear in the Fund or trust or trusts; <br /> d. To select, employ, and compensate at any time any consultants, actuaries, <br /> accountants, attorneys, and other agents and employees the Board of Trustees <br /> believes necessary or advisable for the proper administration of the Fund; <br /> e. To determine all questions relating to eligibility, Service, Compensation and all <br /> other matters relating to benefits; <br /> f. To resolve all controversies relating to the administration of the Fund, including <br /> but not limited to any differences of opinion arising between the Board of <br /> Trustees and the City or a Firefighter, or any combination of them and any <br /> questions it believes advisable for the proper administration of the Fund; <br /> g. To direct or to appoint an investment manager or managers who can direct the <br /> Board of Trustees in all matters relating to the investment, reinvestment and <br /> management of the Fund; provided, however such investment of assets shall <br /> be in accordance with Section 27 of the Act, as amended from time to time; <br /> h. To direct the payment of Plan benefits; <br /> i. To delegate any clerical or recordation duties as it believes is advisable to <br /> properly administer the Fund; and <br /> j. To take all other such actions that are not inconsistent with the Act and to <br /> operate the Plan in accordance with the Act. <br /> 27 <br />